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09 May 2017

I have an ready-made cloth store. My turnover is 15 lakhs per year. Is there nessecity of registering my shop under GST.

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10 Replies

Studentsca (CA Practice ) (3577 Points)
Replied 09 May 2017

If you are registered under any of the existing acts then yes otherwise since your turnover does not exceed 20 Lakhs then no.

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CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 09 May 2017

Not required as your turnover is Rs.20 lakh

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 09 May 2017

Less than Rs.20 lakh

Studentsca (CA Practice ) (3577 Points)
Replied 09 May 2017

Registration is compulsory if you are registered under any of the existing acts irrespective of the turnover of your business. You can cancel it later if the turnover does not exceed Rs. 20 Lakhs.

manoj (student) (5205 Points)
Replied 09 May 2017

if you are already registered than migrate into GST

Or else wait for turnover to reach 20 Lacs

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Hari Magar (56 Points)
Replied 09 May 2017

Have you tin number?

sharad vijaywargi (article) (38 Points)
Replied 09 May 2017

If you sale your goods outside your state also then irrespective of turnover you have to register.

Kausihan Meiyar (19 Points)
Replied 09 May 2017

Hello everyone,
i will be starting a new business of selling & Purchasing of garments..i currently dont have any TIN no...and i am looking forward for registration of TIN no....please guide me whether should i wait till july or get myself registered.

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 09 May 2017

Wait for some time if you can or your turnover is below 2000000/- because till now GST is expected to implement from July.Â
If u registered now for TIN then u have to migrate fully from VAT to TIN